CWB increases initial payments for 2010-11

by World Grain Staff
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WINNIPEG, MANITOBA, CANADA — The Canadian Wheat Board (CWB) on March 28 announced that 2010-11 initial payments for wheat, durum and feed barley will increase effective April 1. The increase will range from C$23.30 to C$49.80 per tonne for wheat (depending on grade and class), C$16 to C$30 per tonne for durum and C$75 per tonne for Pool B feed barley.

A complete listing of payments for all grades in dollars per tonne and dollars per bushel is posted on www.cwb.ca under “Farmers” and “Farmer Payments.”

Farmers who delivered wheat, durum and Pool B feed barley to the CWB between Aug. 1, 2010 and March 31, 2011 will receive an adjustment payment. Checks will be delivered for mailing to Canada Post by April 15 or received by direct deposit on April 12. Farmers who wish to defer payments have until April 8 to notify the CWB by calling 1.800.275.4292.

Initial payments should not be confused with monthly Pool Return Outlooks, which are CWB estimates of farmers' total returns from each pool account. Rather, initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire year.

During the crop year, the CWB regularly reviews the initial payments and recommends adjustment payments if market conditions and sales progress warrant. The government of Canada guarantees initial payments and therefore approves the level at which they are set.
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